IMARC Group, a leading market research company, has recently released a report titled “Digital Health Market Report by Type (Telehealth, Medical Wearables, EMR/EHR Systems, Medical Apps, Healthcare Analytics, and Others), Component (Software, Hardware, Service), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global digital health market share, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global digital health market size reached US$ 421.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,794.7 Billion by 2032, exhibiting a growth rate (CAGR) of 16.9% during 2024-2032.
Request to Get the Sample Report:
https://www.imarcgroup.com/digital-health-market/requestsample
Global Digital Health Market Trends:
The rapid advancements in genomics with next-generation sequencing technologies, paving the way for precision medicine to tailor treatments to an individual’s genetic profile as it leads to more effective and personalized therapies, is contributing to the market growth.
Moreover, the rising utilization of digital platforms for mental health treatment, as they offer innovative solutions for therapy, counseling, and self-help resources, is catalyzing the market growth. Besides this, the burgeoning integration of augmented reality (AR) and virtual reality (VR) technologies in healthcare for medical training and education on patient treatment and rehabilitation is creating a positive outlook for the market.
Factors Affecting the Growth of the Digital Health Industry:
· Rapid Technological Advancements:
The proliferation of smartphones and wearable devices that enhance the capacity for remote health monitoring and telemedicine is one of the major factors boosting the market growth. Besides this, rapid innovations in artificial intelligence (AI) and machine learning (ML) that revolutionize diagnostics and personalized medicine to offer unprecedented accuracy and efficiency in patient care are bolstering the market growth.
Additionally, the burgeoning integration of the Internet of Things (IoT) devices in healthcare to facilitate continuous patient monitoring, leading to better management of chronic diseases and improved patient outcomes, is fueling the market growth. Apart from this, blockchain technology is also emerging as a crucial tool in securing patient data, ensuring privacy, and maintaining the integrity of health records.
· Growing Consumer Demand for Personalized Healthcare:
The increasing consumer demand for personalized healthcare is another significant factor propelling the market growth. Along with this, the growing proactiveness among patients about their health, as they seek tailored healthcare solutions that cater to their specific needs and preferences, is boosting the market growth. Besides this, the rising health consciousness among individuals, leading to a surge in demand for personalized wellness programs, fitness trackers, and diet plans, is enhancing the market growth. Digital health applications enable consumers to monitor their health metrics in real time, providing them with actionable insights to make informed health decisions. In addition to this, the burgeoning availability of direct-to-consumer (DTC) genetic testing kits that empower individuals to understand their genetic predispositions and take preventive measures accordingly, is favoring the market growth.
· Increasing Prevalence of Chronic Diseases:
The rising prevalence of chronic diseases is contributing to the market growth. Chronic conditions such as diabetes, cardiovascular diseases, and respiratory disorders require continuous monitoring and management, which digital health solutions are uniquely positioned to provide.
Moreover, telehealth services, remote monitoring devices, and mobile health applications are playing a critical role in enabling patients to manage their conditions more effectively. They allow for regular monitoring of vital signs, medication adherence tracking, and real-time communication with healthcare providers, ensuring timely interventions and reducing the risk of complications. Besides this, the increasing burden of chronic diseases on healthcare systems, prompting a shift towards more efficient and scalable solutions, is acting as a growth-inducing factor.
Digital Health Market Report Segmentation:
By Type:
· Telehealth
· Medical Wearables
· EMR/EHR Systems
· Medical Apps
· Healthcare Analytics
· Others
Telehealth accounted for the largest market share as it offers widespread access to medical care through virtual consultations, meeting the increasing demand for remote healthcare services.
By Component:
· Software
· Hardware
· Service
Service represented the largest segment as it includes ongoing support, maintenance, and implementation that are crucial for the efficient operation of digital health solutions.
Regional Insights:
· North America
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
North America's dominance in the digital health market is attributed to its advanced healthcare infrastructure, high adoption rate of digital technologies, and favorable regulatory environment.
Competitive Landscape with Key Players:
The competitive landscape of the digital health market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
· AirStrip Technologies Inc.
· AT&T
· Athenahealth Inc.
· eClinicalWorks
· iHealth Lab Inc.
· Kininklijke Philips N.V.
· McKesson Corporation
· Omron Healthcare (Omron Corporation)
· Oracle Corporation
· Qualcomm Technologies Inc.
· Veradigm LLC
Ask Analyst for Customized Report:
https://www.imarcgroup.com/request?type=report&id=1651&flag=C
Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Website: imarcgroup.com
Email: [email protected]
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
